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Car Loan

An Car Loan (otherwise called a car advance, or vehicle advance) is an entirety of cash a buyer obtains keeping in mind the end goal to buy a car. As a rule a credit is a measure of cash that is loaned to an individual, a business, or another substance. The gathering that loans the cash is known as the bank, while the gathering obtaining the cash is known as the borrower. When applying for a line of credit a borrower consents to pay back the full advance sum, and additionally any intrigue (a level of the advance sum, normally figured on a yearly premise), by a specific date, commonly by making regularly scheduled installments.

The highlights of our Car Loans are :

  • Enjoy attractive interest rates
  • Quick and easy loan procedures and disbursement
  • Quick car loan approval
  • Hassle-free loan application process

Finexperts can provide Car Loan from :

Personal Loan from Private Bank : Standard Chartered Bank, ICICI Bank , Yes Bank, Axis Bank, Kotak Mahindra Bank, HDFC Bank, HSBC Bank, Induslnd Bank and RBL Bank.

Personal Loan from Non Banking Financial Company (NBFC) : Fullerton India, Aditya Birla Finance, LIC Housing Finance, Magma Fincorp, Reliance Capital, DHFL Home, Indiabulls, Tata Capital, Bajaj Finserv, Capital First.

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Eligibility for a Car Loan

Self-employed individuals who are eligible for a car loan

  • Minimum Net Annual Business income of Rs. 2,50,000 p.a. for others.
  • Minimum 18 years of age
  • Maximum 75 years of age at loan maturity
  • Least Net Annual Business pay of Rs. 1,80,000 p.a. for chose models and Rs. 2,00,000 p.a. for others.
  • Pay qualification in view of most recent Income Tax Returns
  • Least 3 years of work in a similar line of business

Self-employed non-individuals who are eligible for a loan :

  • Least Net Annual Business pay of Rs. 2,50,000 p.a. for others.
  • Minimum 3 years of employment in the same line of business
  • Pay qualification in view of most recent 2 years. Wage Tax Returns and reviewed financials of 2 years alongside calculation of wage.

Priority/Wealth/Privee customers eligible for a loan :

  • Maximum loan amount restricted to 3 times the AQB in the last 2 quarters
  • Customers with a vintage of 6 months

Salary customers eligible for a loan :

  • Income eligibility base on latest salary slip and Form 16
  • Minimum 21 years of age
  • Maximum 70 years of age at loan maturity
  • Minimum 1 year of continuous employment
  • Maximum 65 years of age at loan maturity
  • Public Limited and Private Limited Companies

Documents for a Car Loan

  • Know your customer documents – any one identity proof (Voter Id, passport, ration card) and any one address proof
  • Income proof- latest salary slip
  • At times bank may also ask for employment stability proof
  • Photographs
  • Signature verification proof
  • Residence proof

Benefits of car loan

Makes simple to purchase auto :

  • The same number of banks give up to 100% fund on ex-showroom value, you don't need to hold up long to purchase your fantasy car.

No collateral required :

  • You don't need to put any guarantee to profit the auto advance as your vehicle will go about as a security with the bank and in the event that you neglect to make the installment, the bank has the rights to grab the vehicle and auction it to recoup the assets.

Advance for purchasing utilized car :

  • Many banks offer advance on utilized auto nowadays. In spite of the fact that the financing cost will be higher than the financing cost on new auto advance and the credit to-esteem (LTV) proportion will be lower than the new car loan.

Financing cost can be arranged :

  • Not at all like home advance if there should be an occurrence of auto advance you have the adaptability to arrange the loan fee with your moneylender on the off chance that you have a decent FICO assessment and have great associations with the bank.

Adaptability to pick the installment mode :

  • You can pay through post-dated checks or utilize the auto charge office where your compared regularly scheduled payments (EMIs) will be naturally deducted from your financial balance.

Our Loan Patners

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